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Is it fair for a financial adviser to charge me 1.6% if I have less than $250K in my account?
Question: I’m evaluating working with a financial adviser who is offering a 1.6% fee for accounts under $250,000. Answer: From a regulatory perspective, it’s usually prohibited to ever charge more than 2%, so it’s common to see fees range from as low as 0.25% all the way up to 2%, says certified financial planner Taylor Jessee at Impact Financial. If an adviser is doing investment management only, 1% tends to be the norm, but if they’re including financial planning, 1.6% is not entirely outrageous, some say.